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A strategist said the US dollar index could fall toward 92, about 1.5% below its July 26 close of 93.40, and that gold could push above $1,300 an ounce. The dollar has declined nearly 9% year to date as doubts grew over parts of the Trump economic agenda and further Fed rate hikes.
This is a forecast rather than a new event. If the dollar weakens as projected, dollar-priced commodities including oil and grains would tend to gain.
cnbc.comRebecca UngarinoJul 27, 2017After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
